Thursday, December 15, 2011

Nancy Pelosi: Worse Than Insider Trading

Nancy Pelosi (D-CA) is now pushing legislation that would directly benefit her stock portfolio, reports (‘NAT GAS’ Energy Subsidies Would Enrich Pelosi, Lachlan Markay,
December 14, 2011 at 12:09 pm)

With the Orwellian name "New Alternative Transportation to Give Americans Solutions" or NAT-GAS (H.R. 13), it is another taxpayer funded income redistribution effort aimed, as usual, at Democratic Party supporters with deep pockets and failed ideological efforts, IMO.

Figures. Between, congress's legal insider trading, high profile Senate multimillionaires (John Kerry, John Edwards [disgraced Kerry vice-presidential pick], to name a few), Sen. Chris Dodd's sweetheart deals with Countrywide, Rep. Barney Frank's Mortgage meltdown, President Obama's handing off billions of taxpayer dollars to corporate losers, and a history of reprehensible behavior, the so-called party of the blue collar working family boldly proves they are not. I just gave to wonder when the blue collars are going to wake up to this un-American conduct.

Saturday, December 3, 2011

President Obama "Step on the gas"

The president says the US needs to "step on the gas" to revive our economy. His idea: pass his jobs bill, including extending his two percent Social Security (SS) payroll tax cut. The problem is that this president apparently does not know how to drive and neither do his advisers (economic council).

Here are my issues with his gas pedal. While it is nice for working Americans to pay less in taxes (always a good thing), economists agree the payroll tax reduction of 2% has had little affect on job creation.

Better put: Obama has tried to step on the gas pedal, missed it, and landed firmly on the brakes... Again.

We saw the same with the 2009 stimulus bill, his failed foray into governmental venture capitalism (Solyndra & others), and personalization of Corporate bankruptcy law (GM) and his uncanny ability to claim it is all someone else's fault. This may reveal why liberals despise capitalism: they cannot grasp the concept.

Since he obviously does not know how to drive, how could he possibly drive us out of the ditch?

But why should Americans turn down a payroll tax cut extension? You do not want the elderly to become homeless, or worse: move into your home, when they can no longer pay their bills and the government is completely out of money and a closed credit line.

The payroll tax is the source of all of SS's funding. All of it. The 2011 Social Security Trustees Report shows red ink in 2010 ("the first time since 1983"). This plan will put much more red on the ledger. And it wasn't so long ago that Democrats were wailing and gnashing their teeth over a plan to redirect 2% to do what? Voluntarily move two percent of the payroll tax into personal retirement accounts. If it was going to bankrupt SS under Bush, how is it helpful under Obama with eight million fewer workers paying into it?

Driving, creating jobs, balancing a budget, leading: It is all a mystery to our President. Time to show him the door.